[ANN] FACTOM - Introducing Honesty to Record-Keeping

[D-Lux]

I m not a native English speaker so I might be wrong but when somebody says to me that line, I really do not expect 16 weeks. What do you expect when you read that D-lux? Does 16 weeks, for example, ever fits the definition of "at least couple of weeks"? Nah, in my mind it means, 2 weeks would be the best possible result, but we do anticipate some potential problems so it might extend to 4 weeks. Ok, we ve had 4 weeks now. Can I it be 16? Definitely not. If you count in the part "as long as it s necessary, then 16 week or 2 years definitely become an option and I really do not think this is what Paul wanted to say. He used that second part of the sentence to state he s been bad at estimating and when he stated "I am not ready to delay out to 2017" then we come back to my original understanding, 2 weeks would be best, 4-5 should be top, final deadline.  

If my understanding s wrong, please correct me, crazyivan is a naval term, I m not really crazy.....much. )

EDIT: Alan updated us just at the moment I posted this previous comment. Thank you, Alan. It s nice of you to update us from time to time. Thx again. Does this mean this goal of 2017 s still the goal we should all expect?

Right, I think this makes sense. I'm personally hoping for a release before 2017, but anything's possible I guess. They're testing now, and will continue testing till it's ready to go, as Paul's said. I'm not sure where "16 weeks" comes in, but that would be another 2-3 months out, which I think is pushing the outer limit. My guess is that they don't really know when the release will come themselves.

I didn't know "Crazy Ivan" was a naval term! Just looked it up "a hard turn to clear the baffles and position the submarine to attack any followers." Cheers for clearing the baffles ...

[1715094009]

1715094009

[D-Lux]

We test and test.  I think I said a few weeks, though someone might have misspoke and said a couple of weeks.  That might have even been I who misspoke.  But no matter what anyone says, testing comes first.

The Testnet has been running very solidly.  So we are pleased with that.  And we are pushing to get every duck in a row before we swap out the current server with the federated set of servers.

We have a pretty high bar.  The network of servers needs to handle 20x or even 100x the transaction rate of Bitcoin to make us happy. And we are seeing this kind of performance.  All sorts of network failures should not derail the protocol.  We have to have processes in place in the software to upgrade the protocol.  And we have to test.

I am very excited about this update.  Nobody is more eager to get this code out than I am.  But we cannot have the disruptions to the protocol that come from pushing out the software when we can test, and can discover issues we could have taken the time to fix first.

Paul

Great to hear! Thanks for the update, Paul.

[AlanX]

We re almost 1 month after testnet s been lunched and Factom did say it was gonna be couple of weeks. What s with Factom and missing their deadlines? Double, triple, quadruple deadline? Is this how business word acts and operates today? Now someone s gonna say, "it s better to wait and have perfect product....." Well, in that case you can wait till next NY cause in business, there s always something to improve.

BTC goes up, FCT (and all other alts go down a bit) = Crazyivan crying again. Who from the official FCT team made any promises in regards to launch date? Nobody... Why don't you just sell your coins and leave this forum? Better for your heart I think.

I do not feel browsing back but either Brian or Alan stated "couple of weeks" in one of their previous posts.

This isn't true.

Paul Snow said 11/7 wrt M2 release: "At least a few weeks, but as long as necessary.”

On 11/1 he wrote: "A couple of months ago I said we were weeks away from a testnet. Our schedule is dictated by testing, and we are testing the heck out of M2, so we are at the edge of that statement. We are quiet, but as Github shows we are hard at work. I am not ready to delay out to 2017. I've been terrible at estimating our schedule, so I'll not say more than that.”

Brian Deery hasn't speculated on a timeline.

So I suggest you read a bit before you start attacking crazyivan.

Indeed. But you forgot the comma before "crazyivan."

I m not a native English speaker so I might be wrong but when somebody says to me that line, I really do not expect 16 weeks. What do you expect when you read that D-lux? Does 16 weeks, for example, ever fits the definition of "at least couple of weeks"? Nah, in my mind it means, 2 weeks would be the best possible result, but we do anticipate some potential problems so it might extend to 4 weeks. Ok, we ve had 4 weeks now. Can I it be 16? Definitely not. If you count in the part "as long as it s necessary, then 16 week or 2 years definitely become an option and I really do not think this is what Paul wanted to say. He used that second part of the sentence to state he s been bad at estimating and when he stated "I am not ready to delay out to 2017" then we come back to my original understanding, 2 weeks would be best, 4-5 should be top, final deadline.  

If my understanding s wrong, please correct me, crazyivan is a naval term, I m not really crazy.....much. )

EDIT: Alan updated us just at the moment I posted this previous comment. Thank you, Alan. It s nice of you to update us from time to time. Thx again. Does this mean this goal of 2017 s still the goal we should all expect?

Once the testnet went out, we started a phase where we do passes over our regression tests, and clean up on lagging issues.   I am doing everything I can do to get the update out, and haven't given up on 2016.  But we will not put out an update that fails a significant test, so testing dictates everything.   As I said, I've been terrible at estimating schedules.  That is all on me.

Paul

[crazyivan]

We re almost 1 month after testnet s been lunched and Factom did say it was gonna be couple of weeks. What s with Factom and missing their deadlines? Double, triple, quadruple deadline? Is this how business word acts and operates today? Now someone s gonna say, "it s better to wait and have perfect product....." Well, in that case you can wait till next NY cause in business, there s always something to improve.

BTC goes up, FCT (and all other alts go down a bit) = Crazyivan crying again. Who from the official FCT team made any promises in regards to launch date? Nobody... Why don't you just sell your coins and leave this forum? Better for your heart I think.

I do not feel browsing back but either Brian or Alan stated "couple of weeks" in one of their previous posts.

This isn't true.

Paul Snow said 11/7 wrt M2 release: "At least a few weeks, but as long as necessary.”

On 11/1 he wrote: "A couple of months ago I said we were weeks away from a testnet. Our schedule is dictated by testing, and we are testing the heck out of M2, so we are at the edge of that statement. We are quiet, but as Github shows we are hard at work. I am not ready to delay out to 2017. I've been terrible at estimating our schedule, so I'll not say more than that.”

Brian Deery hasn't speculated on a timeline.

So I suggest you read a bit before you start attacking crazyivan.

Indeed. But you forgot the comma before "crazyivan."

I m not a native English speaker so I might be wrong but when somebody says to me that line, I really do not expect 16 weeks. What do you expect when you read that D-lux? Does 16 weeks, for example, ever fits the definition of "at least couple of weeks"? Nah, in my mind it means, 2 weeks would be the best possible result, but we do anticipate some potential problems so it might extend to 4 weeks. Ok, we ve had 4 weeks now. Can I it be 16? Definitely not. If you count in the part "as long as it s necessary, then 16 week or 2 years definitely become an option and I really do not think this is what Paul wanted to say. He used that second part of the sentence to state he s been bad at estimating and when he stated "I am not ready to delay out to 2017" then we come back to my original understanding, 2 weeks would be best, 4-5 should be top, final deadline.  

If my understanding s wrong, please correct me, crazyivan is a naval term, I m not really crazy.....much. )

EDIT: Alan updated us just at the moment I posted this previous comment. Thank you, Alan. It s nice of you to update us from time to time. Thx again. Does this mean this goal of 2017 s still the goal we should all expect?

Once the testnet went out, we started a phase where we do passes over our regression tests, and clean up on lagging issues.   I am doing everything I can do to get the update out, and haven't given up on 2016.  But we will not put out an update that fails a significant test, so testing dictates everything.   As I said, I've been terrible at estimating schedules.  That is all on me.

Paul

Ok, your best guess is still 2016 but you do not want to speculate, I can understand that.
Thx Paul. I used this "Alan" cause of your forum nick.

[lolikop]

We re almost 1 month after testnet s been lunched and Factom did say it was gonna be couple of weeks. What s with Factom and missing their deadlines? Double, triple, quadruple deadline? Is this how business word acts and operates today? Now someone s gonna say, "it s better to wait and have perfect product....." Well, in that case you can wait till next NY cause in business, there s always something to improve.

We test and test.  I think I said a few weeks, though someone might have misspoke and said a couple of weeks.  That might have even been I who misspoke.  But no matter what anyone says, testing comes first.

The Testnet has been running very solidly.  So we are pleased with that.  And we are pushing to get every duck in a row before we swap out the current server with the federated set of servers.

We have a pretty high bar.  The network of servers needs to handle 20x or even 100x the transaction rate of Bitcoin to make us happy. And we are seeing this kind of performance.  All sorts of network failures should not derail the protocol.  We have to have processes in place in the software to upgrade the protocol.  And we have to test.

I am very excited about this update.  Nobody is more eager to get this code out than I am.  But we cannot have the disruptions to the protocol that come from pushing out the software when we can test, and can discover issues we could have taken the time to fix first.

Paul

Dont release m2 till fct recovers from this temp dump, keep testing and fix all problems and when btc bull run is over were gonna have a fct run beyond anyone's imagination

[Capoboss]

We re almost 1 month after testnet s been lunched and Factom did say it was gonna be couple of weeks. What s with Factom and missing their deadlines? Double, triple, quadruple deadline? Is this how business word acts and operates today? Now someone s gonna say, "it s better to wait and have perfect product....." Well, in that case you can wait till next NY cause in business, there s always something to improve.

We test and test.  I think I said a few weeks, though someone might have misspoke and said a couple of weeks.  That might have even been I who misspoke.  But no matter what anyone says, testing comes first.

The Testnet has been running very solidly.  So we are pleased with that.  And we are pushing to get every duck in a row before we swap out the current server with the federated set of servers.

We have a pretty high bar.  The network of servers needs to handle 20x or even 100x the transaction rate of Bitcoin to make us happy. And we are seeing this kind of performance.  All sorts of network failures should not derail the protocol.  We have to have processes in place in the software to upgrade the protocol.  And we have to test.

I am very excited about this update.  Nobody is more eager to get this code out than I am.  But we cannot have the disruptions to the protocol that come from pushing out the software when we can test, and can discover issues we could have taken the time to fix first.

Paul

Dont release m2 till fct recovers from this temp dump, keep testing and fix all problems and when btc bull run is over were gonna have a fct run beyond anyone's imagination

Waiting for btc to settle down would be a like betting on the fastest horse to break his leg on the race. They should release M2 as soon its ready.

[AlanX]

Ok, your best guess is still 2016 but you do not want to speculate, I can understand that.
Thx Paul. I used this "Alan" cause of your forum nick.

No worries.  Alan is my middle name, hence the userID.  So Alan or Paul work fine.  I know who you are talking to.

[lolikop]

We re almost 1 month after testnet s been lunched and Factom did say it was gonna be couple of weeks. What s with Factom and missing their deadlines? Double, triple, quadruple deadline? Is this how business word acts and operates today? Now someone s gonna say, "it s better to wait and have perfect product....." Well, in that case you can wait till next NY cause in business, there s always something to improve.

We test and test.  I think I said a few weeks, though someone might have misspoke and said a couple of weeks.  That might have even been I who misspoke.  But no matter what anyone says, testing comes first.

The Testnet has been running very solidly.  So we are pleased with that.  And we are pushing to get every duck in a row before we swap out the current server with the federated set of servers.

We have a pretty high bar.  The network of servers needs to handle 20x or even 100x the transaction rate of Bitcoin to make us happy. And we are seeing this kind of performance.  All sorts of network failures should not derail the protocol.  We have to have processes in place in the software to upgrade the protocol.  And we have to test.

I am very excited about this update.  Nobody is more eager to get this code out than I am.  But we cannot have the disruptions to the protocol that come from pushing out the software when we can test, and can discover issues we could have taken the time to fix first.

Paul

Dont release m2 till fct recovers from this temp dump, keep testing and fix all problems and when btc bull run is over were gonna have a fct run beyond anyone's imagination

Waiting for btc to settle down would be a like betting on the fastest horse to break his leg on the race. They should release M2 as soon its ready.

Selling fct @ these prices just because people waiting for btc to pump over 1k would be like betting @ donkey versus horse

[haggis]

One of the tests I run is:

Code:

 g factomd -count=25 -net=alot+ -blktime=30 -enablenet=false -network=LOCAL -startdelay=5 > out.txt 

This sets up a control console that you can use to play with a simulated network of 25 factom instances.

Then I cd to the factomd directory (on my machine that's ~/go/src/github.com/FactomProject/factomd

Then in another console I run

Code:

 scripts/startstatus.sh  

Now this console gives an over view of all the nodes running in real time. Think of it as a "status console".  This is really crude 1980's console programming, but it is lightweight and effective.  As status messages are printed, they replace the previous, to give the illusion of status updates in the status console.

If you go back to the control console, you can type 'h' followed by an 'enter" to get all the commands you can execute.   The important one is to type 's' followed by enter.   This will start the printing of status to the status console.

Typing the node number (0-24 in this case) puts the 'focus' on one of the nodes (as denoted by the 'f' on the that node's line in the status console).  

Typing 'w' followed by enter directs all api calls to the instance denoted by the 'w' on that node's line in the status console.

If you go to http://localhost:8090 , you will see factomd's built in Explorer to get web based feedback on the status of a node in your test.  Please note that this information comes only from the instance with the 'w' next to it, and by default node 0 if you don't do anything.

I hope this helps get you started.  I really do intend to get some better documentation and blog posts together for people as soon as I can get some time.

This is so cool, thank you!

Just (hopefully) a last question on this topic: what is the 'g' command? Googling it is quite difficult...

[YoyodyneSystems]

Bitcoin has been going up for 2 months straight.
Real pullback should finally start soon. As it has in the past around this point. Floor for BTC probably now around $700.

Looking like there could be a big BTC rise in March (based on triangle still forming over 9-10 months) which leaves FCT with a good 3 months of opportunity to rise.

[AlanX]

This is so cool, thank you!

Just (hopefully) a last question on this topic: what is the 'g' command? Googling it is quite difficult...

Grrrr.  Sorry, meant to delete g....   But just because you asked, it is a script of mine that makes sure I format the code and compile on every run.  It is defined as:

Code:

#!/usr/bin/env bash

if go fmt ./...; then                                                                                     # Run go fmt
	if go install -ldflags "-X github.com/FactomProject/factomd/engine.Build=`git rev-parse HEAD`"; then   # Compile (putting last commit hash into code)
		reset                                                                                         # Reset the terminal (just because) 
		$@                                                                                           # Run everything on the commandline as is.
	fi
fi

# if any error occurs, do nothing but return.

The compilicated -ldflags switch puts the highest commit hash into the code, which is displayed in the web console as the "Git Build".  That helps us in debugging, because anyone testing and providing that hash assures others that they know what code was being tested.

[Pap0u]

Factom is on the verge of a breakout, I don't think anyone is doubting it at this point lol. Question is when? And what position will you be caught in?

[crazyivan]

It seems Bitcoin has run out of steam. Now it ll probably go down go 730 and Factom should have some space to grow.

[CocoLibre]

Factom has held $2 support for a month now, its ideal to see FCT/USD is trading well above where it was when bitcoin was trading at similar highs in June. Its likely with BTC profit takers near highs we see FCT/BTC hold support as well into M2 release IMO

[zoose]

It seems Bitcoin has run out of steam. Now it ll probably go down go 730 and Factom should have some space to grow.

Release M2 when it is ready is my opinion, if that coincides with a Bitcoin slump then great. But we don't want an ETH debacle where the code's not ready. imo

I looked up a Crazy Ivan and I wouldn't want to be on a Submarine during one haha Great name btw

[crazyivan]

It seems Bitcoin has run out of steam. Now it ll probably go down go 730 and Factom should have some space to grow.

Release M2 when it is ready is my opinion, if that coincides with a Bitcoin slump then great. But we don't want an ETH debacle where the code's not ready. imo

I looked up a Crazy Ivan and I wouldn't want to be on a Submarine during one haha Great name btw

Thx, you see how this forum is useful. You learn lots of useful stuff about Factom and some useless stuff about submarine tactics.

[oneyesoneno]

Factom, Inc. Welcomes Three Veteran Executives

Mahesh Paolini-Subramanya comes to Factom from Cielo24, a media intelligence company, where he served as EVP. He has also held positions as VP of R&D and head of Cloud-teams at Ubiquiti Networks, a networking technology provider. He also founded Aptela, which became one of the largest cloud-based unified communication services in the nation. Aptela was later acquired by Vonage.

“Factom’s unique technology brings reliability, scalability, and ease-of-use to the blockchain world,” said Paolini-Subramanya. “Bringing immutability and referencability to documents, be they blobs or structured data, while still providing the performance characteristics necessary to survive in the high-volume and high-velocity world of modern services—this is a game-changer.”

======

Laurie Pyle will lead the creation of a suite of mortgage technology products. Pyle has extensive experience in the mortgage technology field, including helping create the nation’s largest mortgage electronic network. Previously, she served as managing director at Corsair Associates. She has also served as EVP and CIO of Stewart Lender Services, where she headed the technology and operations teams. She was also a founding executive at RealEC Technologies, where she oversaw product strategy, product design, and client solutions.

“I am very excited to be working with the Factom team,” said Pyle. “Factom protocol has great potential to significantly impact a number of facets of the mortgage industry for the better with increased transparency and indelible audit records.”

=======

Jason Nadeau will lead mortgage strategy, revenue growth, and business development strategy at Factom. With more than 20 years’ experience in mortgage technology, Nadeau most recently served as Senior Director at Corsair Associates, where he offered strategic consulting to mortgage technology companies. He has also served as Group President at Stewart Title and CEO of Stewart Lender Services, leading the company’s business lines and technology services. Nadeau also served as Founder, President and CTO of RealEC Technologies. In this role, he helped develop the largest electronic partner network for the mortgage industry.

“The Factom solutions for the Mortgage Industry are some of the most innovative, yet easy adopted, ones that I’ve encountered,” said Nadeau. “The ability to apply blockchain technology to the documentation and data challenges of the mortgage industry creates a completely new paradigm for compliance.”

http://www.dsnews.com/headline/12-02-2016/factom-inc-welcomes-three-veteran-executives

[Pap0u]

Expansion is a good sign. Reputable people don't start careers in a failing company as well as if you read a little into it, big things are being planned as well as diversification in product target fields. Whatever the short term market does, long term we should be good.

[crazyivan]

Yap, this means Factom s slowly specialising into specific industies requiring a lot of data entry and preservation. Good stuff.
Moreover this also means they ve got lot of money to spend.

If I were these three execs, I d ask part of my salary to be in Factoids.

[Pap0u]

Crazyivan joining the bulls again?